Working as a bank teller means you are responsible for handling customers’ financial transactions such as deposits, withdrawals, transfers, money orders, and verifications. You will know the ins and outs of the bank’s systems and policies. Sometimes, they are required to promote the bank’s services, such as a special savings account or an additional checking account for customers. Duties of the bank teller may also include counting cash, answering phones, filing deposit slips and notes, managing ATM deposits, and balancing numbers at the end of the day.
Working as a bank teller
Jobs are hard to come by these days. Even if you have a college degree, you might have to tune in to something entry-level to make ends meet. Many of these jobs are unpleasant, and a few will require you to work long hours. This often includes attacks very early or late. This is the reason many choose to work in the bank.
This list of pros and cons may not apply to every bank, as each bank has its own policies. If you decide to apply for a job at a bank, choose one that suits your personality. Small town banks will have less stressful situations and allow you to really get to know your customers, but you might have a lot of downtime. The most famous banks have more stressful situations but they will keep you busy and make your day go by quickly. Regardless of your choice, here is a list of the pros and cons when working in this profession.
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How to become a bank teller
Working as a full-time bank teller can be beneficial for those who like to interact with others regularly. Cashiers benefit from flexible working hours and expected vacation days. Previous work experience is not required depending on the branch you are applying to.
The following are the requirements for working in a bank:
1. Complete your degree or GED
To become a bank teller, you first need to have a high school diploma or GED. You must be legally able to work in the United States and be able to speak and write fluent English. University degree is not required but it may help with a job or promotion. Depending on your location, fluency in other languages may be ideal.
2. Get certified
A bank teller certificate proves your skills in banking operations, customer service and ethics. Certification is not required to become a bank teller but it may lead to promotion to other positions. A bank teller is considered a junior position. Other positions are loan officer, chief cashier, or personal banking representative. Certificates are offered online through the Association of American Bankers and Independent Bankers of America and others. Certification candidates must complete the certification course and work for at least six months as a cashier prior to the exam.
3. Pass a background check
Candidates for banking positions will likely pass a background check. This examination primarily covers criminal and consumer history. Employers check the criminal record for signs of unethical behavior. Background checks usually contain consumer history that lists places you have lived in the past seven years as well as any bankruptcies. Your credit score is examined to verify that you can perform your duties as a cashier without financial stress.
Bank teller daily tasks
- Making deposits and withdrawals.
- Deposit deposit slips and other paperwork.
- Process transaction requests for credit card customers.
- Opening bank accounts.
- Maintain multiple account records (eg journal, ledger, and balance sheet).
- Maintaining a comprehensive record of daily transactions in the bank, from a check that is disbursed to a loan that is drawn.
- Sorting checks.
- Dealing with correspondence and balance accounts.
- Preparing bank reconciliations.
Bank teller employment outlook
The freshmen at large banks usually specialize in conducting one simple type of transaction, such as taking current account deposits. Ultimately they learn how to deal with other transactions. Then cashiers can specialize in more complex transactions, such as mortgage payments. Some money changers become major tellers who oversee the work of other money changers in their branches. They also direct the training of new cashiers. Some cashiers become assistant managers in a branch office of their bank. These money changers usually take college courses in banking or courses offered by the banking industry.
According to the US Bureau of Labor Statistics, cashiers held about 558,000 jobs in 2004. Nearly a third of these were part-time employees. Employment of cashiers was expected to grow slower than average for all occupations during 2014 due to the increased use of automated teller machines and automated systems that allow customers to do their banking online and by phone. However, there will be new full-time and part-time cashier jobs as banking services provide a relatively large number of job opportunities.
Bank teller salary and benefits
The average annual salary for a seasoned full-time cashier was $ 21,120 in 2004, according to the Bureau of Labor Statistics. Some banks offer incentives where money changers earn extra money to induce customers to use the special financial services the bank provides.
Banking teller skills
Although individual banks differ in their priorities, most seek specific skills in potential employees. These are the skills you must possess or develop if you are working as a bank teller or wish to land a bank teller position, and they are also the skills you should focus on in both your application and interview materials:
- Basic Accounting: Bank tellers handle money and as such they must be able to track numbers. Although most transactions are routed and tracked by computers, cashiers still need to know what numbers should be in order for them to recognize and respond to a problem if it occurs.
Attention to detail: Attention to detail is a big part of a bank teller’s job, from handling funds correctly to keeping accurate records of transactions to following appropriate security protocols. A mistake could lead to a security breach or account irregularities, and either of them could lead to a loss of public confidence in the bank.
- Knowledge of financial programs: Bank tellers must be able to use specialized financial programs. Training may be available on the job, but understanding the program in advance is an advantage.
- Written and verbal communication: The cashiers deal with money, but they deal with people as well. Cashiers should communicate clearly with co-workers and customers, be able to explain policies and procedures, and possibly even deal with potential bank robbers without panic. Bank tellers are the public face of an employer for the vast majority of clients, and they must represent employers well.